A country's economy has been struggling. Many companies have gone out of business, and many of their former workers are unemployed. Banks have
been unwilling to offer loans to people and businesses that want them. Even
worse, the country's largest companies are preparing to shut down some
major projects. Economists project that the economy will continue to struggle
for a long time.
Which phase of the business cycle best describes the country in this
scenario?
A. Expansion
B. Trough
C. Peak
D. Contraction